Monica Vinader, a luxury jewelry brand, has received an investment from Piper Private Equity and Winona Capital. Piper, which specializes in investing in consumer brands, led the investment.
Monica Vinader is an affordable luxury jewelry brand based in the UK. The company was founded in 2007 by Monica Vinader to provide a product that would bridge the gap between costume and fine jewelry. Products include friendship bracelets, gemstones and diamond pieces. According to Piper, high profile customers of Monica Vinader include Kate Middleton (the Duchess of Cambridge); Kate Winslet (actress); and Alicia Vikander (actress).
The new capital from Piper and Winona will support the continued growth of the company. This will include a roll-out of company-owned and franchised stores, expansion of its wholesale distribution (particularly in the US), as well as continued investment in its e-commerce channel (www.monicavinader.com).
The business is run by Ms. Vinader and her sister Gabriela and currently has three London stores, one each in Chelsea, Mayfair and Canary Wharf. Products are also sold in department stores both in the UK and internationally. Worldwide, Monica Vinader has 168 employees and sales have tripled in the last three years to reach £23 million (approximately US$33 million).
“We undertook a rigorous review of potential partners we could work with on our next stage of growth,” said Ms. Vinader. “It was the passion that Piper and Winona demonstrated for our brand and our growth ambitions that really appealed to us. They stood out from all the others due to their deep understanding of how to grow consumer brands and their ability to add significant value through their networks, knowledge and in-house expertise.”
The company will continue to operate from its headquarters in London and Monica and Gabriela Vinader will maintain their current leadership roles. “We are thrilled to join with Monica, Gabriela, and their team to help build Monica Vinader into a global brand,” said Laird Koldyke, Managing Director of Winona Capital.
Winona Capital provides acquisition and growth capital to consumer goods and services businesses in the lower middle market that have revenues from $10 million to $100 million. The firm manages more than $300 million on behalf of the Laird Norton family office and other institutional investors. Winona Capital is headquartered in Chicago (www.winonacapital.com).
Piper Private Equity targets UK businesses with a £5 million to £50 million in sales. The firm was founded in 1986 and is headquartered in London (www.piper.co.uk).
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